Posted by Bullkobear > 2023-11-09 21:49 | Report Abuse

Roller coaster ... bad news is good news.

Posted by OtisKL > 2023-11-10 00:03 | Report Abuse

It's interesting development on rejection of FBM disposal to an UAE entity. The real reason of the rejection is not disclosed. Why ah?

This KNM has lots of surprises every turn it makes...

Posted by OtisKL > 2023-11-10 00:08 | Report Abuse

It's coming to almost 1 month now since EGM, share price not breaking the floor rate 9sen. Investors are holding on to it. What are the backup arrangements to sustain at this price? 🤔 This company really gives goosebumps 😄

Posted by Vhydro > 2023-11-10 00:18 | Report Abuse

9 sen will become ceiling price tmr

Posted by Jonathan Keung > 2023-11-10 08:16 | Report Abuse

More bad news for KNM. Sale of FBM Hudson rejected by Italian government. All the so called restructure plans *mati *
Everything

Posted by OtisKL > 2023-11-10 10:18 | Report Abuse

Good morning, toll free on Saturday and Sunday for deepavali. Tuesday unrecorded leave for government servants celebrating deepavali.

Posted by OtisKL > 2023-11-10 10:25 | Report Abuse

#Woodswater, how to lelong FBM when the Italian government doesn't want to allow it to be sold? Hahaha 😆 if cannot sell, then can rent it out meh? It's like marriage cannot get divorce...😂🤣😃

Posted by OtisKL > 2023-11-10 10:29 | Report Abuse

@Jonathan Keung, the company must device a backup plans by now. Liquidation isn't the only answer to it, using the concept of "blessings in disguise"...

Posted by OtisKL > 2023-11-10 10:32 | Report Abuse

In a financial distress situation where a loss-making subsidiary cannot be sold, options to raise funds might involve:

1. **Debt Restructuring:** Negotiate with creditors to restructure existing debt, extending repayment terms or adjusting interest rates.

2. **Equity Infusion:** Seek additional equity investment from existing or new investors to inject capital into the subsidiary.

3. **Asset Monetization:** Identify and sell non-core assets held by the subsidiary to generate cash.

4. **Cost Reduction:** Implement aggressive cost-cutting measures within the subsidiary to improve its financial performance and reduce losses.

5. **Government Assistance or Incentives:** Explore any government programs or incentives that could provide financial support to struggling businesses.

6. **Joint Ventures or Partnerships:** Form strategic alliances or joint ventures with other companies to share resources and financial burdens.

7. **Contract Restructuring:** Renegotiate contracts with suppliers or customers to improve cash flow and alleviate financial pressure.

It's crucial to assess each option carefully based on the specific circumstances, considering legal, financial, and operational implications. Seeking professional advice from financial experts or consultants can provide valuable insights tailored to the situation.

Posted by OtisKL > 2023-11-10 12:59 | Report Abuse

@Woodswater, if we have the magic ball, we would have bet on water companies, see how the share prices going up, all the big taikor buying up substantial shares into water service providers to take control, YTL, Sunway, etc... the moment our water tariffs going up soon.

Posted by OtisKL > 2023-11-10 13:05 | Report Abuse

Uplift from PN17, need to have 3Q +ve profits, and sustainable. When Airasia X submitted for PN17 uplift, kena shot down, Capital A boss said, jual 3 planes every qtr, can come out PN17. I think Bursa imposed additional terms now.

Posted by KW L > 2023-11-10 16:28 | Report Abuse

FBM can still be sold, I think not to those middle east companies probably due to political issues.

Posted by KW L > 2023-11-10 16:31 | Report Abuse

The management is aware of this condition but never seek initial guidance from the Italian govt.

Posted by OtisKL > 2023-11-10 18:28 | Report Abuse

@KWL, noted with thanks. I reckon so too. On the positive side, we know that Italian government considers Malaysia as a friendly nation.

Posted by maxwin69 > 2023-11-10 18:49 | Report Abuse

Yes, OtisKL, KW L is right. FBM can still be sold. The problem is not that the Italian gomen don't allow it to be sold. They only have issue with this particular buyer, especially due to current Palestinian conflict. That buyer is from a country friendly with Hamas. So, now we either find a buyer from another country or we still sell back to this interested and rich buyer but using higher corporate structuring skills. Without mentioning names, haha... the guy handling this project didn't know how to handle properly and bungled up. From one standpoint it's a hilarious situation. On the other hand it causes more stress on Tunku, because he got KPI ma. We are all watching. He need to nail this. Good luck to Tunku. Hope he fix this project soon.

Posted by maxwin69 > 2023-11-10 18:53 | Report Abuse

On a side note, more Palestinians are coming out to say they don't like their Hamas gomen who has not held elections since 2006. In fact, a majority of Palestinians don't like Hamas. Their brutality, barbarism etc are coming out into the open. More and more countries are acknowledging that Hamas is a terror organisation and Western countries like the US will sanction any country that are friendly with Hamas. That means Malaysia, with our PM and former PM Mahathir, on kissing terms with Hamas and their top leaders. You can google "Anwar or Mahathir and Hamas" and see all the news and photos on how friendly they are.

Now I'm not only worried for KNM. I'm worried for Malaysia kena sanctioned. Adoi...

Posted by Michael Kwok > 2023-11-10 19:32 |

Post removed.Why?

Posted by KW L > 2023-11-10 20:48 | Report Abuse

KNM wasted one year plus on FBM disposal and yield no results. Honestly, this is very disadvantage to the coming 14 Nov case.

Posted by OtisKL > 2023-11-10 21:42 | Report Abuse

@Maxwin69, thanks for the clarification, truly appreciate it. Of course, the middle east conflict may bring down several countries together, but keeping quiet logically speaking a bit selfish, and involving too much also gives trouble. In my personal opinion, I might be wrong, the interpretation I can envision Hamas and Tamil tigers in Sri Lanka sounds similar. A rebel group that started for good cause may have gone off track.

If most countries busy with the conflict, including China that sent its troops to suez canal region, and US sent their biggest ships, all neighbouring countries including Egypt and Syria armies at borders, its like a fire 🔥 and petrol ⛽️ next to each other... one misstep, H...A...B...I...S

Posted by Selena Yeoh > 2023-11-11 08:01 | Report Abuse

Yes, you're right. Shareholders want to be updated on what's happening to the company. When things are not going smoothly and they are in the dark they will vent their frustration during AGM and vote against the management.

But that's human nature, right? People don't like to admit their mistakes. The Devil is in the execution. Like they always say, the idea is there. Yes, we can have good ideas and strategies but they need skill to be executed. That's the difficult part and that is what KNM is facing right now.

There are very few people like Warren Buffett who can own up and say, Look guys, sorry I made some mistakes and caused you to lose money.

The good thing is that Tunku knows exactly what went wrong and he can got the right guys to fix it.

Posted by KW L > 2023-11-11 12:50 | Report Abuse

If Tunku is so good, what has he fixed over the last few years when he is in control?

Posted by KW L > 2023-11-11 12:50 | Report Abuse

Action speaks louder than words

Posted by i3lurker > 2023-11-11 13:18 | Report Abuse

the future is known...............will be delisted and liquidated by auction to highest bidder.

return to shareholders = RM0.0000000000000 per share

the best way.

Posted by maxwin69 > 2023-11-11 15:02 | Report Abuse

Tunku took over as Chairman exactly one year ago. Within weeks the company went under PN17, the leftover pile of shit from previous management. He needed time to assemble his team of professionals to handle the business part ie marketing, look after production and look for funding. He needed another corporate team for corporate structuring which includes selling off loss-making subsidiaries and listing of Borsig. Shareholders are now still giving him a chance to perform, without disturbing him too much. At the same time, German guy and Flavio/Tan trying to overthrow him from inside. Hopefully now he has some breathing space to make things happen. He knows a lot of people are impatient oredi. The ship is on fire and sinking fast.

Posted by MrMojo > 2023-11-11 17:19 | Report Abuse

Fun fact.
Knm went into pn17 officially on 1 nov 22. Now its only been a year.
TY became chairman on feb23
Its quite true he inherited lots of sampah from previous management.
Who knows what the previous guys did.

Posted by MrMojo > 2023-11-11 17:20 | Report Abuse

But TY must have known knm got lots of sampah too. Regardless, maybe he can help or maybe just not enough time

Posted by MrMojo > 2023-11-11 17:21 | Report Abuse

Maybe german sausage can pull his weight around now hehe

Posted by rotikong > 2023-11-11 17:29 | Report Abuse

Counter ni sudah closing

Posted by OtisKL > 2023-11-11 19:09 | Report Abuse

@maxwin69, thanks for putting facts into perspective. It's already 2 red flags for 2 consecutive weeks. Left 1 more to go, the Borsig IPO.

Although we can read the articles and judgement, due to intervention of insiders, nevertheless, these shouldn't be overlooked as frivolous and they could be avoided. Not easy but doable.

Posted by OtisKL > 2023-11-11 19:17 | Report Abuse

@MrMojo, why would the German team help the company when their plans were rejected? Remember, bulk of his shares were from assignment contract. RM600mil issuance of new shares is crazy, placing bonds in European institutional markets currently not advisable unless someone doing a favour. Most other plans were revival of stalled projects like WTE London, FBM Hudson and ethanol Thailand projects, these take time more than 3yrs to produce revenue for the company.

Posted by KW L > 2023-11-11 22:26 | Report Abuse

Tunku became director in Nov 2021, he already controlling the whole board at the time. Exactly 2 years by now and it seems he has zero progress. What did his men do to KNM?

Posted by MacDee34 > 2023-11-12 09:58 | Report Abuse

It is good to see more truth being revealed on this knm management team. It has not been a secret that Golden Powers would not be able to approve the fbm deal. They just wanted to use it to appear as if they were doing the job. Clearly TY and his yes men have no clue what they are doing.

I learned last week that in thailand that CGIF has started foreclosure proceedings on the Thai asset. This is thenethanol plant that needs to be turned back on to produce revenue for KNM.

This should have been a material announcement to the market. Not hidden behind a bogus plan to asset strip the company.

It is time this KNM Board of Directors stands down. The level of incompetence is overwhelming.

Posted by MrMojo > 2023-11-13 11:26 | Report Abuse

German team taking over?

Posted by kion11 > 2023-11-14 10:21 | Report Abuse

do you think the german will make a second attempt?

Posted by i3lurker > 2023-11-14 10:29 |

Post removed.Why?

Posted by purple70 > 2023-11-14 12:42 | Report Abuse

Having the last laugh!

MAny of those lickers of CEO n TY have disappeared...they were just interested in ensuring getting paid for CYTRO work as well as salries at KNM for underperformance!

Creditor restructuring which was championed to go on went postponed - as ecpected!

The CEO n TY fellows are seasoned hand - now they have their salaries, cushy payments, allowances, bonuses, entertainment fee, fully maintained car which will be in existence until next EGM , when police report of their wrong doing could come by in the event of next EGM going thru!

Posted by purple70 > 2023-11-14 12:42 | Report Abuse

ANy status of the disputed outcome of the biasedly conducted EGM?

Posted by purple70 > 2023-11-14 12:43 | Report Abuse

Some who sold their shares before regn date were allowed to vote fully on their shares! Was that investigated?

Posted by purple70 > 2023-11-14 12:46 | Report Abuse

TY fellow is hopeless! Reliving on past glory of his ancestors...who were had so much of integrity in them than this fellow!

Check out what happened to the Indian guy who bought the rotten MMM form his at inflated price , when the same CEO of KNM was running it to the ground!

That Indina guy's name was Ramesh R

Posted by MrMojo > 2023-11-14 13:23 | Report Abuse

So ermmm....any news from german side? Lol

Posted by haziqaz > 2023-11-14 22:08 | Report Abuse

Cadangan KNM jual FBM Hudson kepada Syarikat Petro MAT FZCO UAE ditolak Kerajaan Itali

https://thecorporates-secret.com/blog/2023/11/14/cadangan-knm-jual-fbm-hudson-kepada-syarikat-petro-mat-fzco-uae-ditolak-kerajaan-itali/

Posted by Strategistinvestlam > 2023-11-14 22:40 | Report Abuse

The Company attended the Case Management today fixed for the Erinford Order Application. The Court fixed the hearing on 24 November 2023. The ad interim Erinford Order granted earlier will remain in force until 24 November 2023.

Posted by Selena Yeoh > 2023-11-15 10:31 | Report Abuse

When is the case management for Flavio and Tan Koon Ping? Hmm... that should be a good movie also.

Posted by Strategistinvestlam > 2023-11-15 10:54 | Report Abuse

Selena Yeoh ,I don’t think that is too relevant just a show to exposure both of them should repay back company something else for cover certain losses they built on

Posted by Strategistinvestlam > 2023-11-15 11:04 | Report Abuse

Anyway my opinion is :knm is just for those who aim for long term small bet on can get huge and highest profits probability :we need to give confidence on dato Tunku yaacob khyra due to their team solved many pn17 companies and brings them out from pn17 successfully like MAA melewar macron and Tokio marine ;they are a market repair beast not small potato team ;in records they usually used few years to lifted out from pn17 so short term and no holding power investor are not encouraging attempt this counter

Posted by OtisKL > 2023-11-15 11:31 | Report Abuse

@Strategistinvestlam, thank you for the explanation. So, referring to the SOA that's been denied by the High court, has there been any revision done by Mr Ho team to improvise it, as well as the ES. I understand Mr Ho has experience in debt restructuring, wonder why it could fall short? By the way, is Sec382(2d) of CA2016, reference to a representative of creditors is fulfilled now?

Posted by OtisKL > 2023-11-15 11:36 | Report Abuse

In my personal opinion, engaging with the creditors of any class is the best option to move ahead, although the laws says you need 75%, it gives heavy weights if a consensus is reached. When the company is seeking EOT on repayments of debts with a guarantee of full settlements, while ensuring continuity in supply and business partnerships, I do not see a reason why they should reject it.

Posted by OtisKL > 2023-11-15 11:41 | Report Abuse

The court-appointed liquidators and the company should engage with its own independent liquidators to study and come up a report why EOT is better than outright liquidations. The company should consult BNM assistance too, as it involves vast numbers of stakeholders in bigger proportion.

Posted by Strategistinvestlam > 2023-11-15 14:49 | Report Abuse

@otisKL ya agree with it,need to keep tracking cause lot of particular they need to reprepostion of :due to they need to time by time keep reshuffled their liquidation plan to adopted fulfill the high court guidelines system ;I think MAA and dato Tunku yaacob khyra will tried their best to maintain knm group listed status :if not no worthy they bought in such crown oil and gas field into their listed company leg and see it failed …..we keep catching on their announcements and news see how the progressives

Posted by OtisKL > 2023-11-15 17:27 | Report Abuse

@Strategistinvestlam, thanks for the input, truly appreciate it. Hope for the best then....